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Galan Lithium Limited (ASX:GLN)

ALERT: Price-sensitive ASX Announcement for GLN
Current share price for GLN : $0.280 -0.07 (-20%)+
Announcement
Release
20 Jan 2026 9:12AM
Price at Release
$0.350
Full Release
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Summary
Galan Lithium Limited's Quarterly Activities Report for December 2025 highlights significant progress in their Hombre Muerto West (HMW) lithium brine project in Argentina, which is on track for first production in the first half of 2026. The company has strategically expanded its Greenbushes South tenure in Western Australia and completed the early second tranche of the Clean Elements placement, securing a strong financial position with $15 million cash and no debt. Galan continued with Phase 1 construction at HMW, including the assembly and testing of a nano-filtration plant in Sydney. The company also finalised a $20 million placement from the Clean Elements Fund to support Phase 1 construction. The financial activities for the quarter resulted in a cash balance of $14.9 million at the end of the period.
Key Points
  • Phase 1 construction at Hombre Muerto West (HMW) on track for first production in H1 2026.
  • Strategic expansion of Greenbushes South tenure.
  • Completion of the second tranche of Clean Elements placement.
  • No debt and undrawn US$6 million prepayment facility.
  • Positive progress on HMW project to transition from developer to producer.
  • Testing of nano-filtration plant in Sydney, dispatched for shipment.
  • Cash balance of $14.9 million at end of quarter.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.